CURRENT AFFAIRS

Detailed explanation-1: -New Delhi: Paytm has raised $1.4 billion from SoftBank Group Corp . in the largest funding round by a single investor in India, making the digital payments firm the Japanese company’s biggest bet in India’s start-up ecosystem.

Detailed explanation-2: -According to the company’s December 2022 shareholding, Alibaba had a 6.26 per cent stake in Paytm and another affiliate firm Ant Financial held a 24.86 per cent stake.

Detailed explanation-3: -Paytm’s pre-IPO investors like Warren Buffet, SoftBank, Elevation Capital, Alibaba are long-term investors.

Detailed explanation-4: -While SoftBank has invested $1.6 billion into the digital payments firm over the years, among its biggest investments in India, at Paytm’s current share price, the 17.5% stake SoftBank held in the company before Thursday’s share sale is worth only about $900 million.